Join our study and help us improve the website by clicking here. Bitcoin mining pools wikipedia free is the Difference Between Litecoin and Bitcoin? In 2009, Satoshi Nakamoto launched bitcoin as the world’s first cryptocurrency. The code is open source, which means it can be modified by anyone and freely used for other projects.
Many cryptocurrencies have launched with modified versions of this code, with varying levels of success. Litecoin was announced in 2011 with the goal of being the ‘silver’ to bitcoin’s ‘gold’. At the time of writing, Litecoin has the highest market cap of any mined cryptocurrency, after bitcoin. Here’s our guide to show you the crucial difference between bitcoin and litecoin. Block reward details Halved every 210,000 blocks. Mining differences Just like bitcoin, litecoin is a crytocurrency that is generated by mining.
Litecoin was created in October 2011 by former Google engineer Charles Lee. The motivation behind its creation was to improve upon bitcoin. The key difference for end-users being the 2. This algorithm incorporates the SHA-256 algorithm, but its calculations are much more serialised than those of SHA-256 in bitcoin. Scrypt favours large amounts of high-speed RAM, rather than raw processing power alone. ASIC technology available for this algorithm. However, this is soon to change, thanks to companies like Alpha Technologies, which is now taking preorders.